There is no obligation to pay dividends until a dividend is declared by the Board of Directors.
Correct Answer:
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Q42: The statement that reflects the changes in
Q43: Under the Canada Business Corporations Act, a
Q44: Dividends in arrears are not considered a
Q45: A company may NOT declare a dividend
Q46: Companies must have enough cash before they
Q48: Dividends are distributed from retained earnings.
Q49: If the board of directors has not
Q50: A dividend is a pro rata distribution
Q51: When the retained earnings has a debit
Q52: Income tax expense is shown on the
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